CYAN Cyanconnode Holdings Plc

 

TIDMCYAN 
 
RNS Number : 7409E 
Cyan Holdings Plc 
29 December 2009 
 

29 December 2009 
Cyan plc 
("Cyan or "the Company") 
 
 
Pre-Close Trading Update 
 
 
Cyan (AIM:CYAN), the fabless semiconductor company providing configurable 
application software and production ready modules based on feature rich, low 
power, microcontroller chips, is pleased to provide the following pre-close 
trading update: 
 
 
Production Orders 
Progress continues to be made at the Company, which has sold tens of thousands 
of microcontrollers, thousands of wireless gas meter controllers and hundreds of 
street light controllers. These have been used for prototypes, pre-production 
and field trials. The number of customers carrying out field trials continues to 
grow and none of the customers which have purchased products from Cyan have 
chosen an alternative supplier or cancelled their respective projects. Some are 
awaiting the release of government funding and some are waiting for their 
respective customers to place a production order for a product that has passed 
field testing. 
 
 
The Board of Cyan has put diligent efforts into supporting prospective customers 
and is confident that volume production orders will be confirmed next year. 
 
 
Products 
Cyan's value proposition is a complete and low cost solution, designed to 
deliver fast ROI. 
 
 
In our chosen markets Cyan's Microcontrollers perform all required functions 
with a single microcontroller where competitor solutions require two. 
Additionally Cyan's 16 bit microcontrollers are used where competitors require 
more expensive 32 bit systems. Cyan's solutions are therefore lower cost and 
lower power, which delivers further per unit cost reduction by reducing battery 
cost. 
 
 
In Asia wireless meters enable remote reading and remote switch off in the event 
of non-payment. In India (where the Board believes 40%-50% of electrical 
supplies are stolen) remote wireless meter reading allows profiling of household 
energy usage to identify the culprits. 
 
 
Where demand exceeds generating capacity, wireless meters enable demand control, 
eliminating brownouts or minimising the requirement to import expensive 
electrical energy. In Europe, billing according to time of day can redirect 
energy usage to times of lower demand and use more efficient generating 
stations. 
 
 
Lighting controllers reduce power consumption through dimming, maintenance costs 
through remote reporting and replace unmetered estimated costs with bills based 
on actual energy usage. 
 
 
In all of our chosen markets Cyan's products provide a low cost product that 
provides immediate cost savings for our customers. 
 
 
Customers 
Cyan is now engaged with substantive customers in China, India, Africa, Europe 
and the USA. Many customers have completed field trials, proving the energy 
savings that can be achieved and the Company awaits production rollouts. 
 
 
An established European metering company that has designed Cyan in to its 
automated metering product was recently acquired by one of the metering 
industry's largest players and the Board expects that the Cyan based product 
will now be rolled out across Europe and the expected requirement of tens of 
thousands of units in 2010 will increase, potentially significantly. 
 
 
Two third party companies have adopted Cyan's gateway products as part of their 
product offering and the Board is currently negotiating similar agreements with 
two others. Cyan announced a partnership with Future Electronics, one of the big 
three global electronics distributors and the Summer was spent training their 
sales channel and Cyan is reviewing regular sales forecasts and working through 
a series of customer visits initiated by Future in multiple countries. 
 
 
Management 
The Company has recently recruited a Chief Operating Officer and a new VP 
worldwide sales and marketing, both of whom are highly experienced appointments 
and have taken the decision to join Cyan because of the opportunity they 
recognise lies ahead for the Company as it moves ahead into the 
commercialisation of its very strong product range. 
 
 
Outlook 
The Company's decisive action and substantial cost cutting at the start of the 
year, coupled with the funding provided by shareholders, affords the time for 
anticipated production orders to materialise. 
 
 
The Board believes that Cyan has the products, the prospective customers, the 
funds, partners and the management team to deliver the success and looks forward 
to further announcements in the New Year and to 2010 with confidence. 
 
 
Enquiries 
 
 
+------------------------------------+----------------------------------------------+ 
| Cyan Holdings plc                  | Tel: +44 (0) 1954 234 400                    | 
| Kenn Lamb, CEO                     |                                              | 
+------------------------------------+----------------------------------------------+ 
| Cenkos Securities plc              | Tel: +44 (0)20 7397 8900                     | 
| Stephen Keys / Camilla Hume        |                                              | 
|                                    |                                              | 
+------------------------------------+----------------------------------------------+ 
| Hansard Communications Ltd         | Tel: +44 (0)20 7245 1100                     | 
| John Bick                          | Tel: +44 (0) 7872 061007                     | 
+------------------------------------+----------------------------------------------+ 
 
 
About Cyan 
 
 
Based in Cambridge in the UK, Cyan Holdings plc is a fabless semiconductor 
company specializing in the development of applications solutions collectively 
known as "Cy Solved(TM)" which are built upon the company's low powered, 
configurable eCOG1x and eCOG16E01 microcontroller chips. 
 
Cy-Solved incorporates ready to go solutions for metering and lighting control 
that incorporate software stacks, applications examples, modular software based 
on easy to use APIs, evaluation boards and production hardware modules from 
partners, all pulled together through Cyan's free integrated development 
environment CyanIDE(TM). Cy-Solved can be incorporated as-is into an application 
but also supports an ability to be easily customised - either way giving users a 
head start on the road to market. Currently available Cy-Solved applications 
include RF-Solved, USB-Solved, Ethernet-Solved as well as specific metering and 
lighting products. 
 
 
The Company was founded in 2002 and listed on AIM in 2005. Cyan Holdings plc 
operates through the brand 'Cyan'. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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